How is the work/life balance? I am sure it varies by firm and group but are the hours generally under 60? Closer to 60-70?
Also, what is the hierarchy? I’ve seen Analysts and Associates but where do Associates go if and when they are promoted? (Acquisitions, Credit, etc.)
Currently at a large player in real estate (think CBRE-type of size) and can comment on work/life balance and rank hierarchy.
Work/Life: Work/life balance is incredibly skewed toward life enjoyment. Hours are generally under 60 although EOY 2017 I was pulling 15 hour days every day (Sun to Sat) from mid-November to mid-December.
Hierarchy: Analyst -> Sr. Analyst -> Specialist -> Sr. Specialist -> Manager -> Director -> VP -> Managing Director
Where you go depends on your own personal pursuits. For a very large firm like CBRE (used as an example), those that are unable to climb up are usually able to be shuffled to a different division or service line. This shuffling can occur at their will or not. Some people discover that they're a better fit in a different part of the company and subsequently find themselves climbing the rankings faster than their position in their prior service line.
CBRE has nothing in common with a REIT unless you are in their private equity division and even then still not really similar
Worked for a mid-sized REIT in 2ndary market. Hours were generally under 60 - might vary if there are active deals, but public REITs are (generally) less acquisitive than REPE firms so you likely won't have closings weekly.
Titles are going to vary by firm. In my experience, even at junior levels (analyst/associate) you are lined up under a certain vertical (acquisitions, asset management, corp finance, etc.) and your growth will generally be in that group unless you'd like to move. So in acquisitions, an associate who gets promoted will become a manager (or director or VP depending on firms titles) and will be given additional responsibilities on deal side. There might be firms that share analyst pools between those groups and promote you into a certain one based on need, aptitude, etc. when you progress, but that has not been my experience so I can't really speak to how that would work.